Instructions For Schedule K-1 (Form 1041) - 2016 (Page 3 of 3) in pdf

and the qualifying advanced energy

Box 14—Other Information

Code A. Credit for estimated taxes.

project credit. The fiduciary must provide

The beneficiary treats this amount as a

Code C. Qualified production

you with a statement that shows the

payment of estimated tax. To figure any

activities income. If any of the income is

information you will need and where to

underpayment and penalty on Form 2210,

oil-related qualified production activities

report it on Form 3468 so that you can

Underpayment of Estimated Tax by

income, the fiduciary must give you a

figure the amount of the previously listed

Individuals, Estates, and Trusts, treat the

statement that shows the amount. Enter

credits that you may claim.

amount entered in box 13, code A, as an

the oil-related amount on Form 8903,

estimated tax payment made on January

Code H. Biofuel producer credit. See

Domestic Production Activities Deduction,

17, 2017.

the Instructions for Form 6478 for more

line 7, col. (a). Enter the amount from all

information. If your only source for the

activities on Form 8903, line 7, col. (b).

Note. Form 1041-T, Allocation of

credit is a pass-through entity, such as an

Estimated Tax Payments to Beneficiaries,

Code F. Gross farming and fishing in-

estate or trust, you can report the amount

must be timely filed by the fiduciary for the

come. The amount of farming and fishing

on Form 3800, Part III, line 4c.

beneficiary to get the credit for an

income is included in box 6. This income

Code J. Renewable electricity, refined

estimated tax payment.

is separately stated to help determine if

coal, and Indian coal production cred-

you are subject to a penalty for

Code B. Credit for backup withholding.

it. The fiduciary must provide you with a

underpayment of estimated tax. Report

Include this amount on line 64 of your

statement showing the amount of credit to

the amount of gross farming and fishing

Form 1040 and attach a copy of

report on Form 8835, line 19 (including the

income on Schedule E (Form 1040),

Schedule K-1 (Form 1041) to your return.

allocation of the credit for production

Supplemental Income and Loss, line 42.

during the 4-year period beginning on the

Code C. Low-income housing credit.

Code H. Net investment income tax.

date the facility was placed in service and

The fiduciary will provide you with a

This amount is the beneficiary's

for production after that period). If your

statement showing the amount to report

adjustment for section 1411 net

only source for the credit is a pass-through

on lines 4 and 11 of Form 8586. If your

investment income or deductions. Enter

entity you can report the amount from

only source for the credit is a pass-through

this amount on Line 7 of Form 8960, as

line 19 directly on Form 3800, Part III, lines

entity, such as an estate or trust, you can

applicable. See the Instructions for Form

1f and 4e, as applicable. Otherwise,

report the amounts from lines 4 and 11 of

8960.

complete Form 8835 as directed.

Form 8586 directly on Form 3800, Part III,

lines 1d and 4d, respectively.

Code I. Other information. If this code is

Code O. Biodiesel and renewable die-

used, the fiduciary will provide you with

sel fuels credit. If this credit includes the

Code D. Rehabilitation credit and ener-

any additional information you may need

small agri-biodiesel producer credit, the

gy credit. The fiduciary must give you a

to file your return that isn't shown

fiduciary will provide additional information

statement that shows the information you

elsewhere on this Schedule K-1.

on an attached statement. If no statement

will need and where to enter it on Form

is attached, report this amount on line 9 of

3468, Investment Credit, so that you can

If you receive a statement regarding

Form 8864. If a statement is attached, see

figure the amount of any rehabilitation

the splitting of foreign tax credits from the

the Instructions for Form 8864, line 11.

credit and energy credit that you may

income to which it relates, section 909

may prevent you from deducting the

claim.

Code R. Recapture of credits. If you are

foreign tax credit until the related foreign

required to recapture any credits, the

Code E. Other qualifying investment

income is taken into account. See Form

fiduciary will provide a statement with the

credit. This code is used to report the

1116, Foreign Tax Credit, and Pub. 514,

information you need to figure your credit

qualified investment for figuring the

Foreign Tax Credit for Individuals, for

recapture.

qualifying advanced coal project credit,

more information.

the qualifying gasification project credit,

2016 Instructions for Schedule K-1 (Form 1041)

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Instructions For Schedule K-1 (Form 1041) - 2016 Page 3

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